Question { Visa Steel, 3859 }

what is fbt? and how to calculate of perks which are give
by the employer to employee?

Answer

FBT is a direct tax and its name is fringe benefit tax.
The tax which is charged to fringe benefit provided by
employer to employee is called fringe benefit tax.

Those fringe benfit which are chargeble to tax in the hands
of employee are exmpet from FBT and visce a versa. Since
Parks are taxable in the hands of employee therefore it is
not chargeble to tax.

Question { 10065 }

What is the difference between amalgamation, absorption,
liquidation ? Why realisation account is being prepared ?

Answer

When two or more entity are merged togather and form new
distinct entity is called amalgamation.
When one entity absorbed one or more emtity and later
entity loss their entity merged with former entity is
called absorption.
When a company lossed their entity by action of law or
action taken by self is called liquidation.

Realisation account is prepared to control assets and
liabilities of entity

Question { Logistics, 18202 }

What is journal entry

Answer

The entry made in books of accounts which does not affect cash and bank is called journal

Question { 5394 }

WHAT IS IFRS? IS there any corelation between AS 30 and
IFRS?

Answer

IFRS is international financial reporting system, it is a
GAAP and would be followed by whole world to present thier
finacial statement more fair. India have a plan to adopt
this system by 2011

IAS 39 same as AS 30

Question { 7880 }

Explain kinds of accounts

Answer

There are mainly three types of account
1. Real Account
2. Nominal Account
3. Personal Account
Ex of Real account -- Bank Account
Ex of Personal Account -- Capital Account, Drawings Account
Ex of Nominal Account -- Outstanding account, Payable accounts

Question { 5975 }

I 've Tally7.2 in my pc & i have Data from 2005 but my
Auditor wants only data from 2008 -2009
How do i send that years data i means from 2008 -2009

Answer

First you copy the data and change its name like if data
name is 0001 than change it 0002 and split the period by
using split function in tally it might help you.